If PAL ends the year mining 5,000 tons of underground ore a day think how much they might recover. Last quarter the company reported an underground concentration of 5.0 g/ton. That means if they recover 80% and then rerun the same tonnage they recover another 80% They will effectively recover nearly 4.8g/ton. Given 28.3 grams are in an ounce, PAL will be recovering 848 ounces per day. That translates to about 56,000 ounces per quarter. PAL is looking good!!!
I called_Q1 told people 3,000 TPD was going to increase 2nd half of year to 5,000 TPD after deepening shaft & repair. Goal Q4=5,000 TPD. Also, Loan payment starts quarterly in Sept. & Q3 will reflect recent payment made on July 1 after PAL determined Biz was looking good. MM's were choking the price today.